Method and apparatus for updating and selectively accessing financial records related to investments

ABSTRACT

A method and apparatus for inputting financial data, modifying, formatting and adding to pre-existing data on the basis of such input and, if desired, engaging in further processing of the data and accessing the data through a computer interface which may be directly accessed by unskilled and semi-skilled personnel. Such personnel may introduce a wide range of parameters for purposes of selecting specific desired data. The system is particularly advantageous in respect of maintaining records of investment transactions and providing ready access to the same. In the preferred approach, for selected categories of information, the user may elect one of three options as to each screen field to obtain rapid, customized information delivery. Also, the system preferably employs parallel processing and database performing tuning techniques. Hierarchical processing is employed in certain embodiments of the invention.

This is a division of application Ser. No. 08/345,881, filed Nov. 28,1994.

BACKGROUND OF THE INVENTION

1. Field of the Invention

This invention relates to a system for rapid and efficient processing oflarge volumes of raw data, such as financial data and reformatting thesame, so as to facilitate ready selective access thereto on-line.

2. Description of the Prior Art

It has long been known in connection with various types of financial andaccounting transactions to make advantageous use of computerizedhandling, sorting, storage, formatting and delivery thereof on-line in auser friendly manner.

It has been known, for example, to employ such systems in respect of thepurchase and sale of stocks, bonds and mutual funds. Such computerizedsystems frequently provide for entering of orders to purchase or sellsuch investments with appropriate identification of the buyer, seller,the particular investment being bought or sold, the quantity and dollaramounts of such sales, along with all associated costs, commissions,taxes and the like.

It has long been known to employ general purpose digital computers andaccompanying software to perform financial and accounting functions.See, generally, U.S. Pat. Nos. 4,648,037, 4,953,085, 4,994,464,5,126,936 and 5,132,899.

It has also been known to use such data processing systems for automatedprocessing of information relating to investments and investmentaccounts. See, generally, U.S. Pat. Nos. 4,346,442, 4,486,543,4,566,066, and 5,193,056.

It has also been known to employ computerized systems for monitoringinvestment accounts involving multiple investors and multiple investmentfunds. See U.S. Pat. No. 4,933,842.

With the increased pressure of having such systems handle hundreds ofthousands, if not millions of transactions daily, the ability to processsuch transactions in an efficient and accurate manner while providingfor rapid on-line access thereto on the basis of a large number ofoptional parameters, has created a substantial need for improvedsystems.

The present invention has met this need in a manner which will bedescribed hereinafter.

SUMMARY OF THE PRESENT INVENTION

The present invention has met the above-described need by providing amethod of inputting raw data, assimilating, characterizing andreformatting the same with retrieval being effected by any of aplurality of desired parameters.

The invention contemplates retrieval of sales information, assetinformation and other similar types of information.

The invention also preferably employs computer processing whereinanswers to certain queries may be achieved in a rapid and efficientmanner by users who are relatively unsophisticated in respect ofcomputerized systems. The system employs logic processing parameters inaccordance with a plurality of user options in respect of the nature andamount of information requested through user selected parameters.

The present invention also contemplates providing such a system whichmakes use of parallel processing and advanced database performancetuning technology to achieve the desired results through hierarchicalmeans as to certain categories of information, such as attribution ofcredit for a sale or other transaction.

It is an object of the present invention to provide an automated systemfor the receipt, rapid processing, and formatting of financialinformation in such a manner as to facilitate rapid, user friendlyaccess to such information through a wide variety of parameters.

It is another object of the present invention to provide such a systemwherein means may be employed so as to permit selection of a particularparameter based upon satisfaction of other informational requirementsand the data being sought.

It is a further object of the present invention to provide such a systemwhich is readily employable with mutual funds in the monitoring ofsales, redemptions, exchanges, reinvestments and other transactions.

It is a further object of the invention to provide such a system whereinthe data may readily be employed to update information already containedwithin the system relating to a plurality of categories of informationand may also be employed to establish new files in desired categories.

It is a further object of the invention to provide such a system whichis adapted to be employed with the requested information being presentedto the user through dynamic screens to facilitate user efficiency.

It is a further object of the present invention to provide apparatus andan associated method wherein sales or asset information may be providedwith varying degrees of specificity due to user parameter selection andunique computer handling of large volumes of data relating toinvestments.

It is a further object of the present invention to provide a system forprocessing large volumes of mutual fund information on a daily basiswhile providing user friendly access to sales and asset data.

It is a further object of the invention to provide such a system whereindata may be accessed with different degrees of specificity dependingupon which labeled fields on the user screen are responded to by theuser and the specific user response, if any.

These and other objects of the invention will be more fully understoodfrom the following description of the invention on reference to thedrawings contained herein.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic flow chart illustrating a general overview of thesystem of the present invention.

FIG. 2a through 2c, when assembled, are a schematic illustration showingthe initial processing of information received by the system of thepresent invention.

FIG. 3 illustrates an example of a form of information tables for accessto the formatted data.

FIGS. 4a through 4k, when assembled, are a logic diagram showing apreferred approach to use of the present system in respect of salesinformation.

FIG. 5 is a portion of a logic diagram showing a preferred use of thepresent system in respect of asset processing in accordance with thepresent invention.

FIG. 6 is an example of a user interface screen employable with a salesinformation embodiment of the invention.

FIG. 7 is an example of a user interface screen employable with an assetinformation embodiment of the invention.

FIGS. 8a-8c, when assembled, are a logic diagram showing a preferredhierarchical data processing sequence.

DESCRIPTION OF THE PREFERRED EMBODIMENTS

As used herein, the term "information unit" shall refer to a singlepiece of information which may be expressed in words, numbers or both.The information may include, for example identification of a dealer, abranch which is a specific location of a dealer, a one or morerepresentatives who may have been involved in a transaction, the date ofa transaction, the nature of the security involved, the selling price,the commission, applicable taxes, 12(b)1 fees, the quantity ofsecurities transferred, the nature of the transaction, inventory amountswithin an account, and other financial and related information.

As used herein the term "securities" shall expressly include, but not belimited to mutual funds, common and preferred shares of stock, whetherlisted on an exchange or not, corporate bonds, United States bills,notes and bonds.

While for purposes of simplicity of disclosure herein, where specificreference is made to a type of system, emphasis will be placed upon theprocessing of information relating to investment securities, theinvention is not so limited and may be employed to process a wide rangeof financial and accounting type information. Within the context of thespecific example, the various types of information which is delivered tothe user responsive to user requests, may be employed as administrativetools in marketing and sales efforts, as well as investment productcreation and legal compliance, for example.

Referring to FIG. 1, by way of general overview, it will be seen thatthe system, which includes a computer with a central processing unit andassociated controls and interfaces, has a large volume of raw data input10 which is received within the system and, in accordance withpredetermined programs, is assimilated and reformatted 12 so as toestablish a plurality of storage categories which will rapidly interactso as to provide a user with selective access to the reformatted data 14in accordance with parameters 16 introduced at the user interfaceprovided by a user. In a preferred embodiment of the invention, theinput parameters will be employed as responses to labeled fields on theuser interface screen. These responses may include responses to all ofthe fields, some of the fields, or none of the fields. Also, eachresponse may involve different degrees of specificity.

It is also preferred in the present system to employ a dynamic screen sothat unused fields in the response information provided to the user areeliminated from the screen, thereby, enhancing ease of use of the systemon-line. It will be appreciated that while reference will be made hereinto use on-line, the information, in addition to being displayed on amonitor, may be delivered in the form of hard copy, may be enhanced, orotherwise stored.

FIGS. 2a through 2c may be assembled by matching the circled letters.Referring to FIG. 2, the manner in which incoming data may beassimilated and reformatted will be considered. A source of data 100,such as a transfer agent, may be located at a remote location anddeliver raw data by telephone connection, for example. A mutual fundcomplex, which will be employed as an example of a financial systemherein, receives data over path 102 in the nature of mutual fund dealerinformation 104. It also provides account information 106 over path 108and transaction information 108 over path 110. Wire order information112 is provided over path 114. This data may be raw data.

The dealer information unit 104 provides data for processing regardingnew and changed branches 120 over path 122. This information is passedon to organization table 130 over path 128 in order to update the storedlisting of organization names and locations. New and changed branchinformation 120 is delivered to branch table 136 by path 138. Thisbranch information 120 may include the name of the branch and anyidentification numbers or codes. Also, information regarding newbranches is delivered to branch organization table 140 by path 142.Dealer information 104 also provides information on new and changedaddresses to extract address information 150 by route 152, wherein theaddress information is extracted. The new and changed addressinformation is directed to processing of zip code and state information158 by path 160 which, in turn, delivers the information to addresstable 164 by path 166. In the process stations, such as 120, 150, 158,for example, the raw data is processed to extract informational units ofthe desired categories. This processing may be achieved by suitablelogic functioning known to those skilled in the art.

It will be appreciated that, in this manner, the information containedwithin the computer memory in tables 130, 136, 140 and 164, which may beconsidered first data, as it existed prior to introduction of the rawdata (second data) from transfer agent 100, is combined to createupdated or third data regarding dealers. The third data will contain theoriginal first data and both dealer information which has been revisedand new listings. This third data may be selectively accessed throughthe user interface in a manner to be discussed in detail hereinafter.The information contained within the information lists may be accessedthrough several user options which may involve (a) a first optionentered in any subject category field on the screen to provide aspecific response, or (b) a second option which calls for allinformation in a category through computer combination of specificinformation lists or (c) a third default option where no information isplaced in a category and a summary is provided to the user. The computerlogic provides for unique creation of organized list tables containingthe third data which is readily retrievable in a selective manner inaccordance with the user elected options as to each labeled field on thescreen. For simplicity of disclosure herein, reference will be made tothese three types of data. By way of example, if second data isdelivered every evening, data, which prior to such delivery is firstdata, will be combined with second data to create third data. Such thirddata will be considered the "first data" for the delivery of "seconddata" on the following day.

Similarly, the transfer agent 100 also delivers account information 106by path 108. The station for processing new and changed accounts 170receive information by path 172 for further processing with theinformation going ultimately to account table 176 by path 178. Theaccount information 106 also delivers new and changed addressinformation to the station 180 where address information is extracted bypath 182 which extracted information is, in turn, delivered to zip codeand state information processing station 184 by path 186. The zip codeand state information is then delivered to the address table 164 by path190. It will be appreciated, in this manner, that changes in dealerinformation and account information in respect of tables 130, 136, 140,164 have been adjusted in accordance with the incoming data.

As used herein, the term "dealer" shall refer to a legal entity, such asa corporation or a partnership, for example, which is an organizationinvolved in investment transactions in a sales or redemption capacity.

As used herein, the term "branch" will refer to a particular location oroffice of a dealer.

As used herein, "representative" shall refer to an individual who sellsor redeems investments.

Account information 106 provides to the processing station newrepresentative codes 194 by path 196 for further processing. Arepresentative code table 200 receives the new rep codes by path 202from the unit 194 which processes new rep codes. The new rep codes areadded to rep code table 200. The processed new codes are also deliveredto the rep code person table 204 by path 206 and to the person table 210by path 212 with the former listing individual codes and the latterlisting the individuals.

Referring to the transaction information 108, information for processingnew rep codes 220 is delivered through path 222 with the new rep codesbeing delivered to rep code table 200 by path 224, to table 204 by path226 and by path 230 to person table 210.

The transactions, which may typically involve, for example, mutual fundsales, mutual fund redemptions, mutual fund repurchases or exchanges,are processed in the process transaction unit 240 which receivestransaction information 108 by path 242. The processed transactions aredelivered to transaction table 246 by path 250.

The wire order accounts 112 (FIG. 2c), receives by path 114, informationrepresenting pending transactions which have not reached the settlementdate. In the event that they are not cancelled, they will eventuallybecome transactions. The process station for new rep codes 260 receivesthe information needed by path 262 and distributes the new rep codes,respectively, to tables 200, 204, 210 by paths 270, 272, 274,respectively. If the rep code is pre-existing, a comparison with theexisting tables 200, 204, 210 will confirm this. If not, the rep codeswill be added to the tables 200, 204. 210. The processing of wire orders280 with information transmitted by path 282 involves a comparison todetermine whether the order exists and whether the information is anupdate, in which case, an appropriate change would be made. If it is anew order, it would be entered.

One of the objectives of the present invention is to provide userfriendly, readily accessible means for a large number of users to obtaindesired investment information, such as investment sales and assetrecords, while permitting enhanced flexibility with a number ofparameters. In order to maintain a user friendly system, it is preferredthat the input from the user be provided in response to labeled querieson the user screen and that a dynamic screen be employed to present therequested information to the user so as to eliminate those items whichare not being employed.

Referring to FIG. 3, examples of information containing list tableswhich contain the third data as stored in the computer data storagemeans, will be considered. The logic means within the computer meanswill not only process the third data, but will also provide it to theappropriate list tables for user retrieval. Retrieval from the listtables will be determined by the logic means in a manner to be describedhereinafter.

As will be apparent in respect of FIG. 3, in general, the user will beentering data by selecting item from illustrated sales list tables forFederated. Similar list tables would be provided for asset information.

The arrangement of FIG. 3 is related to the user seeking salesinformation in the Federated portion of the computer as distinguishedfrom data obtained with respect to other clients. Each screen categoryhas corresponding entries in a table in FIG. 3. The user's election ofone of the three options for each screen displayed fields will cause thecomputer logic means to join certain list tables and select data withincertain fields within such tables in order to provide the user with therequested information on the user interface screen. The user, therefore,by making the elections causes the logic means to join the datacontaining tables and select appropriate fields therewithin. In therepresentation shown in FIG. 3, the list tables are shown as rectanglesand the fields contained therein are identified by words. Pathsconnecting the tables are shown as lines with a vertical cross lineindicating that for every single field in the adjacent box, the otherbox having a circle adjacent to a triangle may have zero or any numberof responsive fields connected. The list tables of FIG. 3 are static innature with the summary table 360 being the principal list table. Thelogic means in the computer responsive to user elections selects thesales data from the list tables to be presented to the user on thescreen (or to otherwise be provided as by hard copy or storage withinthe computer or on other magnetic storage media). In response to theuser election, the logic means will determine what list tables and whatportions thereof will be employed in providing a response to a userregarding a user election as to a field.

In the sales example provided in FIG. 3, the initial user response willbe to enter the time period of interest with an indication of thebeginning date and end date for the inquiry which must be between thebeginning and end dates of the available data. The list tables are shownin a particular joined relationship. Firm list table 350 is joined tobranch code list table 356, as shown by line 358, and branch code listtable is shown joined to Federated summary table 360 by line 362.Similarly, representative list table 370, fund list table 400,division-department-region list table 406, and person list table 410 areshown joined to Federated summary table 360, respectively, by lines 376,402, 408 and 412.

In assuming there is no information regarding the firm or branch code,one may enter the fed summary 360 through the table 370 which provides alist of representatives. This information is directed toward fed summarytable 360 by path 372.

In a manner to be described in detail hereinafter, in connection withFIGS. 4a-4k, the responses provided by the user, through the userinterface, will direct the computer logic system to responsive action toprovide from the third data the desired sales or asset information tothe user. Such information processing may involve joinder of informationtables such as exemplified by FIG. 3. The computer means also, as newprocessed third data becomes available, updates the attributes containedin the list tables.

It is preferred that the user be provided with flexibility indesignating the parameters which determine what third data will bereferenced. Within the fed summary 360, the information regarding branchI.D. obtained from table 356, fund detail obtained from table 400, thebegin and end trading dates and summary term, are provided. The amountsof sales activity within particular categories are determined andinformation regarding the person or organization respectively fromtables 410, 406 may be provided to the user on-line. In a preferredembodiment, all third data involving monetary amounts will be containedin the Federated summary list table.

There may be instances where a firm name from firm table 350 produces anumber of branch ID's. It then may be unnecessary to create a join basedupon the information entered.

The information obtained will be keyed to the date or time period forwhich the request has been entered by the user.

It will be appreciated that the first data as originally introduced intothe computer means is modified by second data received from transferagent 100 (FIG. 2) which is assimilated, formatted, and may be otherwiseprocessed into third data which is stored in list tables such as thoseshown in FIG. 3. Different list tables and table arrangements than thoseshown in FIG. 3 may be employed depending on system content and purpose.These tables are in the front end of the user interface and areretrievable in accordance with the computer logic responsive to the userelecting to obtain as to any screen field (a) restricted information(first option), or (b) all information in a field (second option ), or(c) summary information (third option). While for simplicity ofdisclosure, the third option as described herein will be the defaultoption, the system may be programmed to make the second option thedefault option, if desired.

To provide an enhanced understanding regarding the processing ofinformation introduced in accordance with FIG. 2 and the attributecontaining list tables of FIG. 3, the front end user interface detailedinformation regarding options in the sales screen logic (FIGS. 4a-4k)and asset screen logic (FIG. 5) will be provided.

FIGS. 4a-4k form a single flow chart when matching letters are aligned.FIGS. 4a-4k shows the handling of sales information so as to provide thebasic first data as modified by the assimilated and reformatted inputsecond data, shown in FIGS. 2a-2c, to permit selection, processing anddelivery of the resultant third data to the user by way of the logicmeans controlled list tables of FIG. 3, for example. The sales screenlogic 500, which interacts with the user interface, is indicatedgenerally by the reference number 500. The underlying informationalprocessing structure is shown schematically as connected to sales screenlogic 500 by the appropriate lines. The sequence of addressing theselogic components will preferably be from left to right as considered inthe assembled FIGS. 4a-4k. In the left-hand portion of the logicdiagram, reference number 502 shows the Federated screen which relatesto the portion of the logic keyed to transactions involving Federated asa mutual fund complex having a plurality of mutual funds. If any data isfilled in this portion of the screen, such as 504, the CRT would displayinformation from Federated summary 506 which is indicated as the table360 in FIG. 3. If, however, no data is filled in, as indicated by thecondition 510, the summary table designated DST summary (not shown)which contains attributes for activities of other sales entities orindividuals.

The logic means for delivering the information to the user interfaceresponsive to user input in the labeled fields will be organized so asto provide conditions precedent to accessing particular portions of thelogic. In a preferred practice of the invention, as to any labeledfields permitting user input, there will preferably be three options.For example, if a field calls for identification of a mutual fund, afirst option would be to have the user enter a specific response, suchas "XYZ. " In such case, only sales or asset information for thatspecific fund would be provided by the logic means from the third datain the list tables of FIG. 3. Such information may be further refined byresponses provided by the user to other labeled fields. For convenienceof reference, the first option, which requests specific information,will be referred to herein as "NOT ALL." In a second option, the usermight desire sales information on all of the funds and would respond tothe query by inserting "ALL." Sales information with respect to eachfund in the computer would then be displayed subject to whateverrestrictions might be imposed by user responses to other labeled fields.The third option the user has is to leave "fund" blank wherein, subjectto the answers to the other labeled fields, a total or summary of salesfor all of the funds would be provided, but unlike "ALL," there wouldnot be an individual listing of each fund and its sales. It will beappreciated that with the plurality of labeled fields within which theuser may enter information thereby electing the first or second optionsor, by default, electing the third option, this results in the logicselectively accessing the information contained in list tables andproviding a real-time screen display of the same in a manner customizedto the user's labeled field option elections.

Once selection of the appropriate company summary list table is madeunder block 502, the summary term field 520 is displayed on the screengiving the user options "M" 522, "R" 524, "D" 526, "P" 528. Thiselection relates to the user desiring daily or monthly information. Ifthe M block 522 is selected, this is an "ALL" entry by the user. Thesystem will access summary list table rows where the summary is equal toM (Monthly) as in block 528 and will generate a code to group thesummary table trade month and year number 530. If "R" is selected, thisis the equivalent of user making no selection, i.e., blank by the user(block 524), this will access summary table rows where summary term isequal to M 534. If block D 526 is selected, the system will accesssummary table rows where the summary term is equal to D (Daily), as inblock 540, and generate code to group the summary table, wherein thetrade day, month and year number 542 is employed. If block P 528 isselected, this is equivalent to a blank response. The system will accesssummary table rows wherein summary term equals D, i.e., daily (block550). The user must make an election in the summary term field.

Next the user has entered a date or dates in the date field. Referringto block 554, the user has inserted a begin date field, thereby notleaving it blank (block 556). The logic means will generate a code toselect rows where the summary table trade date is greater than or equalto the period begin date (block 558). If the period end date 560 is notblank 562, the system will generate a code to select rows where thesummary table trade date is less than or equal to the period end date564.

At this point in selecting data for delivery to the user, the selectionof Federated or not 502, the summary term field 520 and the period dates554, 560 have been considered sequentially.

The firm field block 570 in FIG. 4b, if not left blank by the user inaccordance with block 572, will cause the firm list table 350 (FIG. 3)to be joined by the logic means to the branch code list table 356 (FIG.3) in accordance with block 574 and will join the branch code list table356 to the Fed summary list table 576 (table 360 in FIG. 3).

With respect to the firm field 570 and all subsequent fields in FIGS.4a-4k, every field on the screen, there are two possible positiveentries, i.e., options. In the first option, there is a restrictionbased upon field, but it is not necessary to restrict the texttranslation in the resultant CRT screen observed by the end user. Ifthere are "ALL" events, i.e., the second option, there is no restrictionbased on the field, but there is the need to join in the texttranslation of the field. In block 580 in the firm field, if it is not"ALL," there is a code generating block 582 to restrict the query wherefirm list owner organization identification equals owner organizationidentification of the requested firm.

Looking next in sequence at the management code field 600 in FIG. 4c, ifthe firm field 570 is left blank and the management code field is notblank 604, this means that no firm has been inserted in firm field 570,but a management code which could be a number, for example, has beeninserted.

The absence of a blank in management code field 604 generates severallogic means driven activities. A code to join distinct branch code list356 to the summary table 608 (360 in FIG. 3) is employed. If themanagement code field is "ALL" 610, then there is also generated a codeto group by distinct branch code list dst management code. Theexpression "dst" refers to sales made through a third partyorganization, i.e., dst rather than sales made by a Federated employee.If the dealer number field is not "ALL" 614, then there is alsogenerated a code to restrict where distinct branch code list dstmanagement code equals management code field 616.

If the firm field is not blank 620 and, if the management code field isnot blank 622, two options can occur. There is generated by the logicmeans a code to join branch code list table 356 to summary list table624 (360 in FIG. 3). If the management code field is "ALL" 630, a codeis generated to group by branch company 632. If the dealer number fieldis not "ALL" 634, there is generated a code to restrict where branchcode list dst mgmt code equals management code field 636.

Next in sequence is the dealer number field 650 in FIG. 4d. If the firmfield 570 has been left blank 652 and the dealer number field is notblank block 654, a code is generated to join distinct branch code listto summary table 656 (360 in FIG. 3). If the dealer number field is"ALL" 660, a code is generated to group by distinct branch code list dstdealer number 662. If the dealer number field is not "ALL" 664, a codeis generated to restrict to where distinct branch code list dealernumber equals dealer number field 666. If the firm field is not blank670 and the dealer number field is not blank 672, a code is generated tojoin branch code list to summary table 674. If the dealer number fieldis "ALL" 676, a code is also generated to group by branch code list dstdealer number 678. If the dealer number field is not "ALL" 680, a codeis generated to restrict where branch code list dealer number equaldealer number field 682.

It will be appreciated that in the preferred sequence of retrievingdata, the status of the firm field 570 is determined and subsequentlythe management code field 600 and dealer number field 650 (as well asbranch code field 700 and rep code field 750) are determined. Dependenton the status of the firm field 570, the subsequent specific fields 600,650, 700, 750, in respect of logic branch employed, is determined. As aresult, the user response to both the first field and the specificsecond field are interrelated. Also, the summary list table use in thedefault or third option also is present if the first or second optionsare elected. The summary information is, therefore, in the preferredembodiment, present without either the first option specific third dataor the second option all data election if a default or third option isselected by the user and is also present with additional informationwhen the first or second option is selected.

Referring to the branch code field 700 in FIG. 4e, if the firm field 570has been left blank by the user (block 702), and the dealer number fieldis not blank (block 704), there is generated a code to join distinctbranch code list table to summary list table 708. If the branch codefield is "ALL" 710, a code is generated to group by distinct branch codelist dst branch code 712 (throughout "dst" will indicate the salessources other than Federated). If the branch code field is not "ALL"716, a code is generated to restrict where distinct branch code listbranch code equals branch code field 718.

If the firm field 570 is not blank 720 and the branch code field is notblank 722, a code is generated to join branch code list to summary table730. If the branch code field is "ALL" 732, a code is generated to groupby branch code list dst branch code 734. If the branch code field is not"ALL" 736, a code is generated to restrict for branch code list branchcode equals branch code field 738.

Turning to the next segment, with reference to FIG. 4f, the rep codefield 750, if the firm field is blank 752 and the rep code field is notblank 754, a code is generated to join rep list table (370 in FIG. 3) tosummary list table 760 (360 in FIG. 3). If the rep code field is "ALL"762, a code is generated to group by rep list dst rep code 764. If therep code field is not "ALL" 768, a code is generated to restrict whererep list dst rep code equals rep code field 770. Block 768, therefore,represents the user having elected the specific first option and block762 represents the user having selected the second option. If the firmfield is not blank 780 and the rep code field is not blank 782, a codeis generated to join rep list to summary table 784.

If the rep code field is "ALL" 786, a code is generated to group by replist dst rep code 788. If the rep code field is not "ALL" 790, a code isgenerated to restrict where rep list dst rep code equals rep code field792.

Continuing sequentially through the fields, rep name field 800, as shownin FIG. 4g. if the rep name field is not blank 802, a code is generatedto join rep list to summary table 804. If the rep name field is "ALL"806, a code is generated to group by rep list dst rep name 808. If therep name field is not "ALL" 810, a code is generated to restrict whererep list at rep name equals rep name field 810. Similarly, with respectto division field 820 (FIG. 4g), if the division field is not blank 822,a code is generated to join div dept reg list to summary table 824. Ifthe division field is "ALL" 826, a code is generated to group by divdept region list div name 830. If the division field is not "ALL" 832, acode is generated to restrict where div dept reg list div name equaldivision field 834.

With respect to the department field 850 (FIG. 4h), if the field is notblank 852, a code is generated to join div dept reg list to summary listtable 854. If the department field is "ALL" 856, a code is generated togroup by div dept reg list dept name 858. If the department field is not"ALL" 860, a code is generated to restrict where div dept reg list deptname equals department field 862.

With respect to the region field 870 (FIG. 4h), if the region field isnot blank 872, a code is generated to join division department regionlist to summary table 874. If the field is "ALL" 876, a code isgenerated to group by div dept reg list region name 878. If the field isnot "ALL" 880, a code is generated to restrict where div dept reg listregion name equals region field 882.

The fed rep field 890 (FIG. 41), if the fed rep field is not blank 892,a code is generated to join person list table to summary list table 894.If the field is "ALL" 896, a code is generated to group by person listperson last upper name,person first upper name 898. If the fed rep fieldis not "ALL" 900, a code is generated to restrict where person listperson last upper name equal last name field and person list personfirst upper name equals first name field 902.

In the acronym field 910, which permits fund identification by anabbreviated term, if not left blank 912, a code is generated to joinfund list table (400 in FIG. 3) to summary list table 914 (360 in FIG.3). If "ALL" 916, a code is generated to group by fund list acronym 918.If not "ALL" 920, a code is generated to restrict where fund listacronym equals acronym field.

If the fund name field 940 (FIG. 4J) is not blank 942, a code isgenerated to join fund list to summary table 944. If the fund name fieldis "ALL" 946, a code is generated to group by fund list legal name 948.If the field is not "ALL" 950, a code is generated to restrict wherefund list legal name equals name field 952.

In the share class field 960, if it is not blank 962, a code isgenerated to join fund list to summary table. If the field is "ALL" 966,a code is generated to group by fund list share class. If the field isnot "ALL" 970, a code is generated to restrict where fund list shareclass equals share class field.

In the fund number field 980 (FIG. 4k), if it is not blank 982, a codeis generated to join fund list to summary table 984. If the field is"ALL" 986, a code is generated to group by fund list fund number. If thefund number field is not "ALL" 990, a code will be generated to restrictwhere fund list fund number equals fund number field 992.

It will be appreciated that in the example regarding sales informationdisclosed with respect to FIGS. 4a-4k, that the user in response to eachlabeled field on the screen will elect one of three options. Option onewill be to insert a specific answer, such as fund "XYZ" and receivesales information on this fund. Option two is to insert "ALL," in whichcase, rather than presenting sales information for "XYZ," it willprovide sales information for all of the funds in the system. Ifdesired, the user may create subgroups containing more than one fund,but less than all. (Such groups shall be deemed to be "ALL" for purposesof this disclosure.) In the first two options, the user will select thefields or field in addition to the fund with respect to which sales datawill be displayed. The third option would be to leave a field blank, inwhich case a summary of total sales would be provided without the backupinformation. Such total sales would also be provided with the first orsecond options. The user responses will be processed by the logic ofFIGS. 4a through 4k to provide the requested information on the screenin spreadsheet, columns, or whatever format has been selected by theuser. The labeled fields of the user interface screen correspond withthe logic fields and the logic fields are preferably processed in thesequence shown in FIGS. 4a-4k. As the user exercises one of the threeoptions for each labeled field, the third data assembled and displayedwill represent the intersection of the parameters.

It will be appreciated, therefore, that with the detailed example ofFIGS. 4a-4k which is directed primarily toward retrieving the sorted,formatted or otherwise processed information input as shown in FIG. 2,permit the user to, in a rapid fashion, employ the preferred approach toretrieving third data from list tables of FIG. 3. Such third data, withrespect to sales, may include information regarding the time period ofinterest, the dealer information, account information, transactioninformation and wire order information which produce changes in thebasic data, as well as the logic supporting the user screen which isemployed in a response to labeled fields, preferably, with a dynamicscreen presenting the selected data in the desired format. Huge numbersof information units, which may be in excess of 10,000 per 24 hourperiod and may be on the order of millions per day, may be rapidlyintegrated in the system for user friendly retrieval in any desiredmanner.

It will be appreciated that the computer logic means have at least twofields and, preferably, at least six fields selected from the groupconsisting of firm field, management code field, dealer number field,branch code field, representative code field, representative name field,division field, department field, region field, representative field,acronym field, fund name field, share class field and fund number field.

It will be appreciated by those skilled in the art that the presentinvention may readily be practiced by programming a general purposedigital computer to configure the computer to perform the disclosedfunctions in the disclosed ways. In the alternative, if desired, all orportions of the functions may be performed by hardware components inlieu of the software.

It is contemplated that this system will provide a means for updatinglarge volumes of transactions in a rapid manner so as to permit a userto introduce the desired parameters in terms of date or starting and enddates of interest, the particular dealer or organization involved in thetransactions, the fund or other investment, asset information the natureof particular transactions, such as sales, purchases and redemptions andobtain responsive information.

Referring to FIG. 5, which will provide the asset screen logic whereinthe inquiry is not so much sales and marketing oriented, but rather isdirected toward asset information. The figure in the preferred form, isessentially the same as FIGS. 4a-4k accept that in lieu of sales screenlogic block 500, an asset screen logic block (not shown) would besubstituted at that location. In addition, the blocks designated 520summary term field through 564 would be deleted and an asset data field1024 would be inserted. Otherwise, the two figures can be substantiallyidentical.

Referring in greater detail to FIG. 5, if the Federated screen region1002 has an "if any data filled in" 1004, the code sets the summarytable to fed asset summary 1006. If no data is filled in 1010, the setsummary table to Federated data with respect to dst asset summary 1012is employed. This merely, as in the sales case, tells the computer thateither Federated's records or DST's will be accessed.

The asset data field 1024 has one option which is a specific date 1026which, if elected, results in joining the date table to the summarytable 1028. The other option is for a date range 1030 which generates acode to restrict where asset date is between the earliest date andlatest date specified 1032.

The firm field 1070 may be essentially the same as firm field 570 ofFIG. 4b. The if not blank block 1072 branch leads to a join firm list tobranch code list table 1074 and joining branch code list to summary listtable 1076. The if not "ALL" 1080 block generates code to restrict querywhere firm list owner org id equals owner org id of the requested firm1082. Similar portions of the logic to the components of FIGS. 4a-k andassociated logic trees will also, in this context, relate to managementcode field 600, dealer number 650, branch code field 700, rep code field750, rep name field 800, division field 820, department field 850,region field 870, fed rep field 890, acronym field 910, fund name field940, share class field 960 and fund number field 980. A group of listtables generally similar to the sales list tables of FIG. 3, butdirected toward asset information would be employed in this embodiment.

FIG. 6 is a user interface screen adapted to be employed in the presentinvention with respect to obtaining sales information. In order to makethe system user friendly, the invention contemplates user insertions inlabeled fields as the way of establishing the parameters which the userdesires to be employed in retrieving the third data from the computerstorage means.

It is understood that the user may, if he or she desires, employ thedefault or blank option with every labeled fields, but such action willgenerally not be employed as more specific parameters will be employedin at least some fields. Also, if desired, logic functions may beemployed in the user interface to establish certain triggers which limitthe user's freedom. In this regard, such triggers may be embedded in thesoftware component of the screen. For example, if a management code1116, which did not exist, were entered, the screen would display amessage advising the user of the error.

Initially, in block 1098, the user is requested to insert the periodbegin date 1104 and the period end date 1102 with identification of theclient 1106 or Federated 1130.

The next portion of the screen, which is in block 1108, deals withidentification of the brokerage firm or dealer, or representativeinvolved in handling the transaction. The user will select from thesequence that information which he or she desires to obtain by employingone of the three options as to each field. Fields are provided forinsertion of firm identification 1110, location of the firm 1112, thedealer number 1114, the management code 1116, the branch code 1118, thebranch 1120, the rep code 1122 and the rep name 1124. If rather thanbeing an outside client 1106, the client is the company operating thesystem, such as Federated, this information is provided at 1130. WithinFederated, in block 1132, there is provided hierarchical informationregarding the assignment of the sales for purposes of getting credit forthe sales and commission payment. As stated hereinbefore, thehierarchical approach to assignment provides a listing in descendingorder of specificity wherein finding an entry at one level eliminatesthe need to go to the next level. This hierarchical analysis isperformed by the computer logic means with only the specific answerbeing provided on the screen. Within the Federated block 1132, thefields include division 1140, department 1142, region 1146 and Federatedrepresentative 1148.

Within rectangle 1150, information regarding identification of theparticular mutual fund is provided as by acronym 1152, formal mutualfund name 1154, share class 1156, number of shares 1158 and whether itis a load or no load fund 1160. By exercising one of the three optionsas to each field of inquiry, the user tells the computer logic meanswhich information the user desires.

Referring to FIG. 7, this screen involves use of the system in obtainingasset information for a specific date or a time period, such as shown inrectangle 1180 by reference number 1182. The "X" indicates a dateselected. The identity of the client is inserted at 1184 or Federated isselected at 1208. In similar fashion to FIG. 6, the businessorganization information is provided in rectangle 1182 with firminformation being 1185, the location 1186, management code is 1187,dealer number 1188, branch code 1190, branch 1194, representative code1196, and representative name 1198. Similarly, to the sales informationof the screen of FIG. 6, FIG. 7 provides labeled fields for userselection of parameters. To the extent to which it is a Federatedtransaction, Federated is entered at 1208 with the assignment of assetagain being determined in hierarchical fashion. The user will elect oneof the three options for each field, i.e., division 1202, department1204, region 1206, and Federated representative 1208. This all appearsin rectangle 1210.

In rectangle 1216 are provided spaces for inserting mutual fundinformation, such as the acronym 1218, the name of the fund 1220, theshare class 1222, the number of shares 1224, and whether it is a load orno load fund 1226.

With reference to FIGS. 6 and 7, it will be appreciated that dependingupon the specific use of the system, different fields may be employedwhile employing the beneficial aspects of the present invention.

Details of a preferred parallel processing system are shown in FIG. 8.It will be appreciated that the logic means has a pre-establishedhierarchy of levels which are presented in descending order ofpreference. In order to improve speed of processing, simultaneous orparallel processing will be employed. In essence, each level will seekdata at its level and, if found, will deliver the data only if there isno data for a higher level. In this manner, data available for thehighest level will be delivered to the exclusion of data from otherlevels. In a preferred approach, the highest level will be the narrowestor most specific level and it will with increased specificity progressto the lowest level which will be the broadest or most general level.

Another feature of the invention is to employ in certain categories ahierarchical structure which establishes a sequence of queries in theparticular category such that, once a response is found, the othercategory items need not be explored further. The logic means create thisthird data selection without user input and stores the data in the listtables of FIG. 3. This may be employed, for example, in determiningproper attribution of a sale of securities for purposes ofrecord-keeping and commission payments. For example, in the transactioncategory, one might establish the following hierarchy:

1. transaction level

2. account level

3. fund level

4. rep code level

5. branch level

This is set up so that the higher item is on the hierarchy, the morespecific it will be, and satisfaction of a more specific inquiry meansthat one deliver more general information from a lower hierarchicalcategory. For example, if one is seeking a particular event in thetransaction category, upon getting a match at the transaction level, thesystem will deliver this information to the list table. Failure to get atransaction level assignment means that the account level is exploredand, if an assignment exists, that is employed. This practice isfollowed in descending order of preference through the branch level.Once an assignment is obtained, this information is delivered to a listtable in FIG. 3. It is preferred to employ at least two of these fieldsin the hierarchy.

Similarly, with respect to the account hierarchy in determining thebusiness entity or individual to get credit for an account, the sequencemay be as follows:

1. account level

2. fund level

3. rep code level

4. branch level

The present invention makes extensive use of parallel processing anddatabase performance tuning techniques in order to establish efficientand rapid processing and retrieval. In employing this hierarchicalapproach to determine an answer based on this hierarchical approach, thethird data which represents the updated original data is provided inrelational tables. These tables are searched by parallel processing anddata base tuning techniques so as to employ the hierarchical techniquein determining the most specific category of sales or account entrycontained within the data. This hierarchical selection occurs within thecomputer and is not visible to the user.

Referring to FIGS. 8a, 8b, 8c, which assemble according to matchingletters and which provides a schematic of the preferred parallelprocessing system 1300. It will be appreciated that in the salesparallel processing 1301, as the list of five categories progresses fromthe most specific, i.e., transaction level to the most general. i.e.,branch level, the branch level will have great deal more data to besorted. As a result, in the sales processing approach, the transactionlevel assignments 1302 may be processed simultaneously with theprocessing of account level assignments 1304 and the processing of fundlevel assignments 1306, as well as the rep code level assignments 1310.The broadest category which involves the branch level assignments is, inthe form shown, subjected to parallel processing of one-fourth of thedata in each of the categories 1320, 1322, 1324, 1326. The simultaneousor parallel processing engaged in under the sales parallel processing1301 enhances the speed of processing, while permitting the desiredhierarchical processing. The logic means would for the sales parallelprocessing 1301, be provided with logic functions, such that if anassignment is found at the transaction level 1302 (positive dataregarding a transaction), this is delivered to the list tables of FIG.3. If there is an assignment in a process account level assignment 1304,but no process transaction level assignment 1302, the account levelassignment is delivered to the list tables. Similarly, in each of theelements of the descending hierarchy, if an assignment is found andthere is no assignment from a higher level category, then the data forthat level will be delivered to the list tables by the logic means.Similarly, with respect to asset parallel processing 1329, the assetlist in the preferred embodiment disclosed is identical with the saleslist except for the absence in the asset list of the transaction level.Parallel processing will be initiated with the account level assignments1330, the fund level assignments 1332, the rep code level assignments1334, and four categories of branch level assignments 1338, 1342, 1344,1346. The logic means employs similar hierarchical selection based uponthe assignments to deliver information to an asset list tables which maybe generally similar to the sales list tables of FIG. 3. Whereas, in thesales category, an assignment may mean identification of categorypositive information relating to a unit to receive credit for a sale, inthe asset category assignment means positive identification of a unit toreceive credit for a given asset.

It will be appreciated that as the categories get broader, when onedescends the levels in accordance with the hierarchy, substantially moredata is likely to exist in lower ranking levels. In order to expediteprocessing of the data, parallel processing employing a division of thedata into multiple units, such as the one-quarter division in respect ofbranch level information 1320, 1322, 1324, 1326 in respect of the salesfigures shown in FIG. 8. It will be appreciated that for differentlevels and different volumes, a different breakdown may be employedwhile, nevertheless, obtaining advantage of the parallel processingconcepts of the present invention.

It will be appreciated that the hierarchical system of assignment, incombination with the dynamic screen which eliminates fields for which noinformation is provided, facilitate user friendly, efficient operationin accessing potentially millions of information units of third data ina rapid and efficient manner. This is contributed to in a substantialway by the previously discussed system which makes efficient use of listjoinings and field groupings and labeled fields so as to combineinformation to provide the desired accurate and efficiently functioningsystem.

It will be appreciated, therefore, that the present invention provides amethod and apparatus for updating large volumes of transactions whichmay be in the order of millions per day so as to permit user friendlyaccess to various parameters selected by the user. The system may employuniquely configurated logic means which may be software operable on ageneral purpose digital computer to convert it into a computerconfigurated to perform the disclosed function or may be hardwarecomponents performing the same function or a combination thereof.

It will be appreciated that the sales information of FIG. 6 and theasset information of FIG. 7 are provided on separate screens. Inaddition, if desired, to employ a spreadsheet, one might export the datato a suitable spreadsheet by means of software such as that marketed byMicrosoft Corporation under the trade designation Microsoft Excel orLotus 1-2-3 by Lotus Development Corporation, for example. The system iscompatible with many other systems as it can produce comma separatedvariable (csv).

In a preferred practice of the present invention, the system may employas a platform one or more pre-existing software systems. A preferredapproach is to employ the Oracle and SQL* forms which are respectivelydatabase software and user interface software of the Oracle Corporation.To the extent to which the system will employ a spreadsheet feature, thesoftware marketed under the trade designation Microsoft Excel byMicrosoft Corporation may be employed advantageously. Reflectionsoftware, available from Walker Richard Quinn of Seattle, Wash. may beemployed to enhance efficiency of moving data into the Microsoft system.In lieu of Microsoft Windows, which is a preferred approach to thepresent invention, it may readily be employed with Apple Computer, Inc.Macintosh systems. Other IBM compatible systems may also be employed.

While the disclosure herein has made specific reference to the use ofthe system with mutual fund investment monitoring and record-keeping, itwill be appreciated that the system may also be employed for variousother types of other investment securities.

While reference has been made herein to the preferred user interfacescreen employing labeled fields due to speed and simplicity, the usermay, if desired, be solicited by a series of questions or other means.

Whereas particular embodiments of the invention have been describedabove for purposes of illustration, it will be appreciated by thoseskilled in the art that numerous variations in the details may be madewithout departing from the invention as described in the appendedclaims.

I claim:
 1. A data processing system for maintaining, updating andaccessing investment information comprisingcomputer means for receivingand processing said data, said computer means having data storage means,said data storage means having means for storing data including thefollowing categories of data: dealer information, dates, transactions,identity of the investment, asset information and sales information,first data including data in at least one of said categories stored insaid means for storing, said computer means having means for receivingand processing second data relating to said at least one of saidcategories, said computer means having means for comparing said seconddata with said first data and modifying existing first data to createthird data which is stored in said data storage means, said computermeans having user interface means for selecting and retrieving data inat least one said category from said third data, and said user interfacemeans permitting information requests with respect to said categories inthe form of a first option for specific information or a second optionfor all information or a third option for less information than saidfirst option and said second option.
 2. The data processing system ofclaim 1 includingsaid user interface having at least one of said first,second and third options being a default request.
 3. The data processingsystem of claim 2 includingsaid data storage means having logic meansfor obtaining specific information through hierarchical processing of atleast a portion of said third data.
 4. The data processing system ofclaim 3 includingsaid logic means having means for establishing saidhierarchical listing in priority sequence going from the most specificdesignation to the most general designation.
 5. The data processingsystem of claim 4 includingsaid logic means which after obtaining apositive response third data on one level delivering said positiveresponse third data to said data storage means if there is no positiveresponse third data at a higher level.
 6. The data processing system ofclaim 5 includingsaid logic means employing parallel processing in saidscanning of said hierarchical listing.
 7. The data processing system ofclaim 6 includingsaid hierarchical listing having information regardingthe classes of organizations and individuals that may receive credit fora sales transaction.
 8. The data processing system of claim 4includingsaid computer logic means having means for interpreting aplurality of hierarchical levels simultaneously by parallel processing.9. The data processing system of claim 8 includingsaid computer logicmeans employing in said categories in descending order of preference atransaction level, an account level, a fund level, a rep code level anda branch code level.
 10. The data processing system of claim 9includingsaid computer logic means, if it finds a transaction at saidtransaction level, will deliver data on said transaction to a list tablein said data storage means.
 11. The data processing system of claim 10includingsaid computer logic means, if it finds an account at theaccount level, and no transaction at said transaction level, willdeliver data on said account to said list table.
 12. The data processingsystem of claim 11 includingsaid computer logic means interpreting eachsaid level and if it receives data at a said level and does not receivedata from a higher said level, will deliver said data to said listtable.
 13. The data processing system of claim 12 includingsaid userinterface screen displaying said list table hierarchical entry without aspecific field entry in said field by said user.
 14. The data processingsystem of claim 8 includingsaid computer logic means employing in saidcategories in descending order of preference an account level, a fundlevel, a rep code level and a branch code level.
 15. The data processingsystem of claim 14 includingsaid computer logic means interpreting eachsaid level and if it receives data at a said level and does not receivedata from a higher said level, will deliver said data to said listtable.
 16. The data processing system of claim 2 includingmeans fordelivering said second data to said computer means from a remotelocation.
 17. The data processing system of claim 16 includingsaid meansfor receiving and processing data having means for receiving andprocessing said second data which includes both revisions to said firstdata and additions to said first data.
 18. The data processing system ofclaim 17 includingsaid means for receiving and processing said seconddata including a plurality of storage tables.
 19. The data processingsystem of claim 18 includingsaid storage tables having at least one of adealer organization table, a branch table, a branch organization table,an address table and an account table.
 20. The data processing system ofclaim 19 includingsaid means for receiving and processing said havingmeans for processing second data relating to account information, andsaid storage tables having at least one of an account table, arepresentative code table, a representative person table and a persontable.
 21. The data processing system of claim 20 includingsaid meansfor receiving and processing having means for receiving and processingsaid second data regarding transactions.
 22. The data processing systemof claim 21 includingsaid computer means having a wire order table whichreceives information regarding wire orders in process, and saidreceiving and processing means having means for distributing reformattedinformation to said storage tables.
 23. The data processing system ofclaim 21 includingsaid information regarding transactions includinginformation regarding at least one of sales, redemptions, reinvestmentand exchanges.
 24. The data processing system of claim 16 includingsaiddata storage means having means for storing said third data including aplurality of third data storage tables each having informational fieldsrelating to at least one of said categories.
 25. The data processingsystem of claim 24 includingsaid means for receiving and processing saidsecond data having means for assimilating and reformatting said seconddata to be entered into first data to create said third data.
 26. Thedata processing system of claim 1 includingsaid data processing systembeing a data processing system for maintaining and updating investmentinformation for mutual funds.
 27. The data processing system of claim 26includingsaid data processing system being a system for maintaining andupdating mutual fund investment information selected from the groupconsisting of sales information and asset information.
 28. The dataprocessing system of claim 1 includinguser interface means receivingthird data from said data storage means, said user interface meanshaving said first option within a field related to a said category ofselecting specific said third data relevant to said field, and saidcomputer logic means in the event said first option in said userinterface means is elected by said user having means for generating codeto select said specific third data for said field for retrieval.
 29. Thedata processing system of claim 28 includingsaid user interface meanshaving said second option within a field related to a said category ofselecting all said third data relevant to said field, and said computerlogic means in the event said second option in said user interface meansis elected by said user having means for generating code to groupinformation lists containing all said third data in said field forretrieval.
 30. The data processing system of claim 29 includingsaid userinterface means having said third option within a field related to asaid category of selecting group a summary of said third data relevantto said field, and said computer logic means in the event said thirdoption is elected in said user interface is elected having means forgenerating a code to join list tables containing said third data toprovide a summary of all said third data in said field.
 31. The dataprocessing system of claim 30 includingrepeating said user interfacemeans and said computer logic means functions as to each said field, andproviding the resultant information as to said fields on-line to saiduser.
 32. The data processing system of claim 31 includingsaid userinterface means employing the absence of a user response in a said fieldas said third option.
 33. The data processing system of claim 30includingsaid computer logic means responsive to a user election of saidfirst option or said second option in addition to generating code forsaid respective first option or said second option will also generatesaid code for said third option, whereby user election of said firstoption or said second option in addition to generating code for saidoptions will generate the code for said third option.
 34. The dataprocessing system of claim 22 includingsaid computer logic means havinga plurality of fields corresponding to fields displayed on said userscreen.
 35. The data processing system of claim 34 includingsaidcomputer logic means have at least two fields selected from the groupconsisting of firm field, management code field, dealer number field,branch code field, rep code field, rep name field, division field,department field, region field, representative field, acronym field,fund name field, share class field and fund number field.
 36. The dataprocessing system of claim 35 includingsaid computer logic means havingmeans for scanning said fields in the sequence listed.
 37. The dataprocessing system of claim 36 includingsaid computer logic means fieldshaving at least six of said fields.
 38. The data processing system ofclaim 35 includingsaid computer logic means in said management codefield, said dealer number field, said branch code field and said repcode field each have a first inquiry as to whether said firm field has auser created entry or not.
 39. The data processing system of claim 38includingas to each said field other than said firm field after a branchin the logic sequence is pursued based upon whether the firm field had ascreen entry or not, the next succeeding question is whether theparticular category involved is blank or not with said logic meansproceeding to pursue said first option or said second option only if anentry has been made in the field of said specific category.
 40. The dataprocessing system of claim 38 includingsaid computer logic means havingmeans for repeating said response to user requests for each field onsaid screen.
 41. The data processing system of claim 30 includingsaidcomputer logic means having a first logic tree for a first field withone branch being employed if said second option is elected and anotherbranch being employed if said first option is elected, and said usercomputer logic means having at least one additional logic treedownstream of said first logic tree relating to a different field andhaving different branches dependent upon which branch is employed insaid first field.
 42. The data processing system of claim 41includingeach said additional logic tree relating to a said differentfield having in each branch options based upon the user option electedas to said different field.
 43. The data processing system of claim 42includingsaid computer logic means having a plurality of said additionallogic trees.
 44. The data processing system of claim 42 includingsaidinterface means having means for displaying on-line said third datarequested by said user, and display means having a dynamic screen,whereby fields which do not have retrieved said third data willdisappear from the screen.
 45. The data processing system of claim 44includingsaid computer logic means including means for determining thebusiness entity or individual to receive credit for a transaction, andsaid means for determining employing a hierarchical list approachwhereby a positive response to any field in the hierarchical list willresult in no further scanning of said list.
 46. The data processingsystem of claim 45 including said computer means being capable ofprocessing in excess of about 10,000 information units of said seconddata within a 24 hour period.
 47. The data processing system of claim 41includingsaid computer logic means having a date field for determiningthe time reference before scanning said first field.
 48. The dataprocessing system of claim 1 includingsaid user interface meansproviding a plurality of labeled fields on a screen, and said userinterface means being responsive to user requests by a first responseindicating specific information in said field is desired or by a secondresponse indicating all the information in a field is desired or a thirdresponse indicating summary information in said field is desired. 49.The data processing system of claim 48 includingone of said userresponses being failure to enter information in a said field.
 50. Amethod for maintaining, updating and retrieving investment informationcomprisingproviding data storage means for storing data containinginformation including the following categories of data: dealerinformation, dates, transactions, identity of investment, asset valueand sales information, storing in such means for storing, first dataincluding data in at least one of said categories, inputting second datarelating to said at least one of said categories, comparing said seconddata with said first data and creating third data by effecting updatingchanges in said first data with said second data, storing said thirddata in list tables, and inputting through a user interface informationin at least one said field of a said category to elect a first option toreceive restricted said third data in a said field or a second option toreceive all said third data in a said field or a third option to receivesummary third data with respect to said field.
 51. The method of claim50 includingelecting one of said options by a user default entry in saidfield.
 52. The method of claim 51 includingproviding in said second databoth revisions to existing first data and additions to said first data.53. The method of claim 50 includingemploying a plurality of said fieldson a user interface means screen.
 54. The method of claim 53includingemploying in said computer means a plurality of storage tablesto store said first data and receive said second data.
 55. The method ofclaim 54 includingemploying as said storage tables at least one tableselected from the group consisting of organization table, branch table,a branch organization table, an address table, and an account table. 56.The method of claim 55 includingemploying said method with respect toaccount information and employing in said method at least one tableselected from the group consisting of account table, representativetable, a representative person table and a person table.
 57. The methodof claim 56 includingsaid second data including information regardingtransactions, and introducing said second data transaction informationinto a transaction table.
 58. The method of claim 50 includingemployingsaid process for maintaining and updating investment informationrelating to mutual funds.
 59. The method of claim 58 includingemployingsaid data system to maintain and update mutual fund investmentinformation selected from the group consisting of sales information andasset information.
 60. The method of claim 59 includingincluding in saidmutual fund investment information regarding at least one type oftransaction selected from the group consisting of sales, redemptions,reinvestments and exchanges.
 61. The method of claim 60includingemploying with respect to said second option means which groupa plurality of list tables of said third data, and employing with saidfirst option a restricted grouping of third data.
 62. The method ofclaim 61 includingemploying as said third option means said defaultentry, and joining a first list table to a summary table responsive touser election of said third option.
 63. The method of claim 62includingemploying in said user interface list tables stored said thirddata corresponding to labeled fields on the user's display screen. 64.The method of claim 63 includingresponsive to said user electing as to asaid field said first option generating in said computer means code torestrict said third data delivered to a specific said third data field.65. The method of claim 64 includingresponsive to said user electing asto a said field said second option generating in said computer meanscode to group third data fields for delivery to said user.
 66. Themethod of claim 65 includingproviding said third option response to saiduser even if said user has elected said first option or said secondoption for said field.
 67. The method of claim 66 includingrepeatingsaid third data retrieval as to each field on said user interfacescreen.
 68. The method of claim 61 includingproviding with respect to afirst field a first logic tree and responsive to user election of saidsecond option joining said third data from different list tables andresponsive to user election of said first option selecting restrictedthird data.
 69. The method of claim 68 includingemploying a series oflogic trees each related to a said field for providing said third datawith respect to said field.
 70. The method of claim 69 includingeachsaid logic tree having a first branch and a second branch which areemployed or not employed as a function of the user having elected saidfirst, second or third options.
 71. The method of claim 70includingemploying sub-branches within each said first and second branchdepending on whether said user elected said first option or said secondoption.
 72. The method of claim 71 includingemploying said system withsaid second data including at least 10,000 information units receivedwithin a 24 hour period.
 73. The method of claim 50 includingrepeatingsaid process as to each said field for each said user election.
 74. Themethod of claim 50 includingafter creating said third data but prior tostoring said third data in said third data list tables hierarchicallyprocessing said third data, employing said method to determineattribution of sales by hierarchical means by providing a series ofbusiness entity or individual identifying fields in increasinggenerality as the list of fields is descended, terminating the searchwhen one level has a positive entry, and no higher level has a positiveentry, and delivering said entry to said third data list table.
 75. Themethod of claim 74 includingsearching a said list of hierarchical fieldswhich contains at least two fields selected from the group consisting oftransaction level, account level, fund level, representative code leveland branch level.
 76. The method of claim 75 includingemploying parallelprocessing in searching said hierarchical fields.
 77. The method ofclaim 75 includingdisplaying on-line said third data sought by saiduser, and withdrawing from the display screen fields which have noentries.
 78. The method of claim 74 includingeffecting said search athierarchical levels employing parallel processing.
 79. The method ofclaim 78 includingemploying said hierarchical levels in descending orderof preference a transaction level, an account level, a fund level, a repcode level and a branch level.
 80. The method of claim 79 includingifsaid search finds a transaction at said transaction level, dataregarding said transaction will be delivered to a said list table. 81.The method of claim 80 includingif said search finds an account at saidaccount level and finds no transaction at said transaction level,delivering the data regarding said account to said list table.
 82. Themethod of claim 81 includinginterpreting each said level and if itreceives data at a said level and does not receive data at a higher saidlevel, delivering said data from said level to said list table.
 83. Themethod of claim 82 includingdelivering to said user interface screensaid hierarchical data entry without a specific field entry in saidfield by said user.
 84. The method of claim 83 includingemploying issaid hierarchical levels in descending order of preference an accountlevel, a fund level, a rep code level and a branch level.
 85. The methodof claim 50 includingemploying in said computer means logic means forprocessing data for at least six fields selected from the groupconsisting of firm field, management code field, dealer number field,branch code field, representative code field, representative name field,division field, department field, region field, acronym field, fund namefield, share class field and fund number field.
 86. The method of claim85 includinginterpreting each of said fields in said computer means inthe sequence listed in claim
 78. 87. The method of claim 85includingemploying in said computer means logic means with respect toeach said field two logic branches, and selecting the same said thirddata for said user third option election regardless of which logicbranch is used.
 88. The method of claim 85 includingemploying said firmfield as one of said fields, and employing as to each other said fieldinterpreted after said firm field two logic branches the use of whichbranches is dependent on the user election in said firm field.